Afia Foundation Inc
Afia Foundation Inc. faces significant and sustained operating deficits, with expenses consistently far exceeding revenue in recent years.
EIN: 203957960 · New York, NY · NTEE: E11 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $12.0M |
| Total Expenses | $3.2M |
| Program Spending | 75% |
| Net Assets | $20.0M |
| Transparency Score | 45/100 |
Is Afia Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Afia Foundation Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Afia Foundation Inc
Afia Foundation Inc (EIN: 203957960) is a nonprofit organization based in New York, NY, classified under NTEE code E11. The organization reported total revenue of $12.0M and total assets of $17.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Afia Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Afia Foundation Inc is a large nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -27.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $49K |
| Total Expenses | $3.2M |
| Surplus / Deficit | $-3,129,641 |
| Total Assets | $20.0M |
| Total Liabilities | $76K |
| Net Assets | $20.0M |
| Operating Margin | -6390.7% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 75.7 months |
Financial Health Grade: B
In 2023, Afia Foundation Inc reported a deficit of $3.1M with expenses exceeding revenue, holds 75.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Afia Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -27.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -98.5% | -63.6% | -1.3% |
| 2022 | +48.2% | +1350.2% | -39.2% |
| 2021 | +34.4% | -83.6% | +10.6% |
| 2020 | -8.2% | +187.7% | -2.6% |
| 2019 | +14.9% | -35.1% | +16.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Afia Foundation Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Afia Foundation Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
No officer compensation has been reported across all available filings, suggesting either a fully volunteer executive leadership or that compensation is structured differently, which could be a positive for resource allocation but warrants further inquiry for full transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Afia Foundation Inc's IRS 990 filings:
- Consistent and significant operating deficits, with expenses far exceeding revenue in recent years (e.g., 2023 revenue $48,972 vs. expenses $3,178,613).
- Large fluctuations in annual expenses without clear corresponding revenue trends, raising questions about financial planning and operational stability.
- Declining asset base from a high of $33,406,360 in 2021 to $20,045,076 in 2023, potentially indicating asset depletion to cover deficits.
Strengths
The following positive indicators were identified for Afia Foundation Inc:
- No reported officer compensation, which could indicate a highly efficient or volunteer-led executive structure.
- Maintains a substantial asset base ($20,045,076 in 2023), providing some financial cushion despite recent deficits.
Frequently Asked Questions about Afia Foundation Inc
Is Afia Foundation Inc a legitimate charity?
Afia Foundation Inc (EIN: 203957960) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 45/100. It has 13 years of IRS 990 filings on record. Total revenue: $12.0M. 3 red flags identified. 2 strengths noted. Financial health grade: B.
How does Afia Foundation Inc spend its money?
Afia Foundation Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Afia Foundation Inc tax-deductible?
Afia Foundation Inc is registered as a tax-exempt nonprofit (EIN: 203957960). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Afia Foundation Inc's spending goes to programs?
Afia Foundation Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Afia Foundation Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Afia Foundation Inc is near average for NTEE category E11 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Afia Foundation Inc located?
Afia Foundation Inc is headquartered in New York, New York and files with the IRS under EIN 203957960. It is classified under NTEE code E11.
How many years of IRS 990 filings does Afia Foundation Inc have?
Afia Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $12.0M in total revenue.
Is Afia Foundation Inc. financially sustainable given its consistent operating deficits?
The organization has reported significant operating deficits in recent years, with 2023 revenue of $48,972 against expenses of $3,178,613, and 2022 revenue of $3,368,505 against expenses of $8,722,503. This trend raises serious concerns about its long-term financial sustainability, despite substantial assets.
How are the large operating deficits being funded?
The consistent and large deficits suggest that the organization is either drawing down on its assets, utilizing prior year surpluses, or receiving significant non-revenue contributions not immediately apparent in the revenue figures. This funding mechanism is not clear from the provided data.
What is the nature of the organization's expenses, particularly the significant fluctuations?
Expenses have varied wildly, from $601,455 in 2021 to $8,722,503 in 2022 and $3,178,613 in 2023. Understanding the breakdown of these expenses (program, administrative, fundraising) and the reasons for such large fluctuations is crucial for assessing efficiency and impact.
Filing History
IRS 990 filing history for Afia Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Afia Foundation Inc's revenue has declined by 97.9%, moving from $2.4M to $49K. Total assets decreased by 19.1% over the same period, from $24.8M to $20.0M. Total functional expenses fell by 46.6%, from $6.0M to $3.2M. In its most recent filing year (2023), Afia Foundation Inc reported a deficit of $3.1M, with expenses exceeding revenue. The organization holds $76K in liabilities against $20.0M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $20.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $49K | $3.2M | $20.0M | $76K | — | — |
| 2022 | $3.4M | $8.7M | $20.3M | $24K | — | — |
| 2021 | $2.3M | $601K | $33.4M | $106K | — | View 990 |
| 2020 | $1.7M | $3.7M | $30.2M | $224K | — | View 990 |
| 2019 | $1.8M | $1.3M | $31.0M | $309K | — | View 990 |
| 2018 | $1.6M | $2.0M | $26.6M | $273K | — | View 990 |
| 2017 | $1.6M | $1.5M | $29.1M | $10K | — | — |
| 2016 | $1.2M | $2.6M | $26.7M | $14K | — | View 990 |
| 2015 | $1.7M | $777K | $28.1M | $25K | — | View 990 |
| 2014 | $1.6M | $444K | $28.6M | $10K | — | View 990 |
| 2013 | $2.3M | $362K | $27.5M | $57K | — | View 990 |
| 2012 | $2.2M | $1.6M | $25.1M | $140K | — | View 990 |
| 2011 | $2.4M | $6.0M | $24.8M | $39K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $49K, expenses of $3.2M, and assets of $20.0M (revenue -98.5% year-over-year).
- 2022: Revenue of $3.4M, expenses of $8.7M, and assets of $20.3M (revenue +48.2% year-over-year).
- 2021: Revenue of $2.3M, expenses of $601K, and assets of $33.4M (revenue +34.4% year-over-year).
- 2020: Revenue of $1.7M, expenses of $3.7M, and assets of $30.2M (revenue -8.2% year-over-year).
- 2019: Revenue of $1.8M, expenses of $1.3M, and assets of $31.0M (revenue +14.9% year-over-year).
- 2018: Revenue of $1.6M, expenses of $2.0M, and assets of $26.6M (revenue +0.1% year-over-year).
- 2017: Revenue of $1.6M, expenses of $1.5M, and assets of $29.1M (revenue +29.1% year-over-year).
- 2016: Revenue of $1.2M, expenses of $2.6M, and assets of $26.7M (revenue -25.9% year-over-year).
- 2015: Revenue of $1.7M, expenses of $777K, and assets of $28.1M (revenue +5.1% year-over-year).
- 2014: Revenue of $1.6M, expenses of $444K, and assets of $28.6M (revenue -32.0% year-over-year).
- 2013: Revenue of $2.3M, expenses of $362K, and assets of $27.5M (revenue +4.2% year-over-year).
- 2012: Revenue of $2.2M, expenses of $1.6M, and assets of $25.1M (revenue -4.8% year-over-year).
- 2011: Revenue of $2.4M, expenses of $6.0M, and assets of $24.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Afia Foundation Inc:
Data Sources and Methodology
This transparency report for Afia Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.